Market Movements And Crypto Price Predictions For XRP, ADA and XLM

Key Insights

• The crypto market has suddenly become more volatile than ever before.
• Among the top cryptocurrencies, Stellar, XRP and Cardano have the most interesting price performances.
• XRP needs to break above $2.72 and then clear the $2.9 range before aiming for a new high above $4.5 or even $5.
• If Cardano holds above $0.9, it has a fair chance of breaking above $1 this week.
• Stellar could retest $0.36 but is likely to rebound if the general market momentum remains bullish.

The crypto market has been bustling with activity, with the entire industry turning green as illustrated.

The crypto price today of Cardano, XRP and Stellar (XLM) in particular, have been interesting throughout the week.

Here’s a closer look at what these three have been up to in terms of market trends and legal developments.

Why should you care about them?

Key Patterns and Resistance Levels For XRP

XRP crypto price today has been very resilient so far, despite facing challenges over the weekend.

According to data from CoinMarketCap, the cryptocurrency briefly surged from  $2.20 to $2.60 between Monday and Tuesday this week.

However, it has failed to break out from this resistance, and the charts show that XRP is now in an incomplete breakout from the triangle pattern shown below:

This means that the market is now expecting a stronger confirmation from the cryptocurrency.

The breakout illustrated above has failed to trigger any significant liquidations and remains unconfirmed at this point.

At the same time, the next critical support for XRP sits at $2.39, which XRP has flirted with but has not broken below as of yet.

To fully break out from the triangle shown above, XRP might need a break above $2.72, after which it will target the $3 price level.

A failure to break above this level might result in further consolidation, or even a correction as the triangle above changes into a completely different pattern.

If XRP breaks above $2.72 and then clears the $2.9 range, it could aim for a new high above $4.5 or even $5.

On the flip side, if the bears take control again and cause a dip below the $1.96 price level, the bullish predictions will become invalidated and XRP might plunge lower.

Cardano Navigating The Market

Cardano crypto price today makes it a top performer, despite how it crashed last week after hitting the $0.91 price level.

A few days ago, the bears prevented a break above the $1 mark and caused an 8% price drop below $0.9.

Despite this setback, however, the cryptocurrency’s open interest remained steady at around $1.2 billion.

In essence, this could mean that traders are cautiously optimistic about its recovery.

Historically speaking, the $0.90 support level has always served as an important zone for traders to accumulate the cryptocurrency (before a break above $1).

According to the charts, if Cardano holds above this price level, it has a fair chance of hitting the $0.96 to $0.99 range.

Once this is out of the way, the bulls then have to focus on getting the cryptocurrency above the psychological $1 price level.

Despite ongoing concerns about inflation and the upcoming Consumer Price Index (CPI) report, investors are still optimistic about the incoming Trump inauguration and the crypto-friendly policies that might follow.

Stellar (XLM) Joins the Recovery

Just like the other two, XLM crypto price today has also seen a bullish comeback.

According to CoinMarketCap, the cryptocurrency is up by 1% over the last 24 hours before writing, after rallying from a low of $0.395 to $0.427.

So far, trading volumes are impressive with a near-30% increase over the last 24 hours.

This indicates that Stellar is indeed prepared for a comeback as traders move more funds around.

The 4-hour chart shows that the cryptocurrency now sits in a bullish pennant formation and is aiming at a break above the $0.486 price level for a confirmed breakout.

Further along in Stellar’s journey, a retest of the $0.36 price level is entirely possible.

However, the cryptocurrency is likely to break out of this formation if a downside correction does not take it below the $0.36 mark.

Overall, the crypto market is in one of its most volatile phases, with all of the above cryptocurrencies showing both opportunity and risk.

The ability of each of these cryptocurrencies to break out of their respective resistances depends on more factors than mere speculation.

Investors must remain cautious, as the next few days are expected to come with strong volatility spikes.